Total employment is shown as a percent decline from the peak for each cycle. The GFC crisis caused the biggest decline since the war. In the past, sharp declines have been followed by sharp increases. But not this time.
Frankly, despite the rebound in the markets I'm beginning to wonder whether the required yield on shares isn't going to start rising. Which will mean that share markets will struggle. Perhaps (and it's only perhaps, so far) this is a dead cat bounce. I'll be watching the technicals very closely for the next couple of months.
[Source: Morgan Stanley]
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